Construction numbers surprise to the upside
| May 04, 2009 |
Although economists were predicting as much as a 3.5 percent drop in construction spending in March, the numbers just released by the Commerce Department show an increase of 0.3 percent. It’s not much but it is the first time the numbers have reached into positive territory in six months. And commercial construction logged an impressive 2 percent gain over this time last year.
One month doesn’t a recovery make, and keep in mind these numbers can be skewed quite a bit by weather related delay, but it may be the beginning of a trend.